Introduction to how to become a millionaire
How many times have you asked the question how to become a millionaire? How many people have given you a satisfaction answer as to how to become a millionaire? After you have learnt how to become a millionaire, you will want to know how to become a billionaire.
How to become a millionaire is a question with many answers. After all, many people asked this question how to become a millionaire since a hundred years ago. Napoleon Hill wrote Think and Grow Rich for people who wanted to know how to become a millionaire. Many millionaires today know how to become a millionaire since they have reached the stage of being a millionaire.
This article is the result of research on how to become a millionaire. It is divided into many subheadings. This article will discuss how to become a millionaire by being lucky, how to become a millionaire by changing your mindset, how to become a millionaire by changing your spending habits, how to become a millionaire by sheer hard work and how to become a millionaire by making wise investments.
How to become a millionaire by being lucky
The easiest way to answer how to become a millionaire for many people is by luck. They are willing to forgo a few dollars a week for lottery. How to become a millionaire to them means striking the lottery.
Gambling is an addictive habit. Gambling is a bad habit. Many people who learnt how to become a millionaire by other ways do not recommend gambling. The fact is that gambling is one answer to the question how to become a millionaire.
The lucky fellow that hits the winning combination in the progressive jackpot of the slot machine become a millionaire. If anyone asks him how to become a millionaire, he will tell you to play the slot machine and be lucky.
However, luck is elusive. You cannot control good luck and bad luck. You cannot control the winning combination. You cannot work hard or work smart to be lucky. You cannot learn how to become a millionaire by being lucky. You cannot learn how to be lucky, short of seeking divine protection.
How to become a millionaire?
One way is by having good luck, and wins the big jackpot or the winning combination in the lotto draw. The difficult is to learn how to keep the money. Lottery winnings is the hardest money to control, to keep and to grow.
So folks, do not rely on lottery to answer the question: how to become a millionaire.
How to become a millionaire by changing your mindset
You have to learn how to become a millionaire by changing your mindset. If you are satisfied with your current salary, you will never become a millionaire. If you are happy at your job, and do not want to change the job scope in exchange for more money, you will not learn how to become a millionaire.
All the self-made millionaires learn that how to become a millionaire starts from changing the mindset. They learnt that it is possible to become a millionaire. Once they change the mindset from “I cannot be a millionaire” to “I can be a millionaire”, they will continue to change the mindset to “I will be a millionaire.”
Do learn to change your mindset. All the tips on how to become a millionaire are useless if you do not believe that you can be a millionaire.
Keep learning how to become a millionaire by changing your mindset. Even if you are poor and bankrupt at the moment, you can learn to change your mindset. Once you change your mindset, you will find that there are so many ways to answers how to become a millionaire. You can learnt so many ways on how to become a millionaire, even though you just need to succeed once to become a millionaire.
“The millionaire next door” as written by Thomas J Stanley and William D Danko shows that it is possible to become a millionaire.
This book shows that many people learnt how to become a millionaire by being self-employed entrepreneurs. Some people who are employees also learnt the secret to how to become a millionaire. However, working for others and become a millionaire is more difficult than to start a business and work for yourself.
You have to change your mindset, know that it is possible for you to become a millionaire. Many millionaires are self-made millionaires. They do not inherit their money from rich ancestors. They ask the question how to become a millionaire, and they found the answer to how to become a millionaire.
Do change your mindset, and keep searching for the answers to how to become a millionaire. Keep on searching. Not many people become a millionaire in their first attempts. Even if you have to try 100 times or 1000 times, if you keep asking how to become a millionaire, you will find the answer to how to become a millionaire. Then, you can write a book and teach your readers how to become a millionaire.
How to become a millionaire by changing your spending habits
You cannot become a millionaire if you keep on spending more than your income. Spending more than what you can make is a bad habit. Even if you can make a million dollars a year, you cannot become a millionaire if you spend two million dollars a year.
If you ask all the millionaires how to become a millionaire, they will tell you to spend far less than what you can make. If you do not know how to spend far below your earnings, you have not learnt how to become a millionaire.
You have to learn how to become a millionaire by living a frugal lifestyle. You have to learn how to become a millionaire by living well below your means. You have to learn how to become a millionaire by driving a current model year automobile. You have to learn how to become a millionaire by not wearing designer suits. After all, when you are a millionaire, with tons of cash in bank, you do not need to wear designer suits to impress people.
Once you learnt how to become a millionaire means to spend far less money than you make, you can learn how to become a millionaire by making wise investments.
How to become a millionaire by sheer hard work
Many people learnt that how to become a millionaire means sheer hard work. They are passionate about their work, and they do not mind putting in long hours into their businesses. How to become a millionaire is not for lazy bums who hate work of any sort.
Many millionaires make their money over many years. They do not encourage you to learn how to become a millionaire by making fast bucks.
Some millionaires do make quick money. They learnt the secret of how to become a millionaire by making money quick and fast. Some millionaires become instant millionaires because they sign a professional sports contract. Most of us do not have the talents to win the Olympics, so making fast buck by signing sports contract is not the answer to how to become a millionaire.
The majority of the millionaires, however, learn how to become a millionaire by working hard, saving hard, and investing their money.
Many millionaires learnt that the answer to how to become a millionaire starts with having the capital to start a business or invest. Some millionaires started by taking on additional job after the full time employment. They became a consultant. They did multi level marketing. They sold products and made commission from there. They also earned when their down line sold products.
They started a part time business in their spare time. They worked hard at the business. They developed the business to a stage where they could quit full time employment and concentrated on the business.
Learning how to become a millionaire means you have to learn how to create multiple sources of income. Unless you are part of the top management team, you are unlikely to become a millionaire working in your current job.
You can learn how to become a millionaire by creating passive income. You can start a website that earns passive income for you. You can write a book and continues to earn royalties from your book. You can invest in a rental property, and make rental income from the property. You can take on a part time job, so that you do not have time to spend money and can make extra money.
Learning how to become a millionaire involves learning the tricks to make money, and to put in hard work.
How to become a millionaire by making wise investments
If you want to know how to become a millionaire, you have to learn some investment terms. You have to learn the power of compounding interests. Compounding interests is a formidable power. Many people become poorer because their credit debt is subjected to compounding interests.
A $1,000 credit debt can snowball to a few hundred thousands. At the interest rate of 24% per annum, the credit debt of $1,000 will double every 3 years. That is the power of compound interests.
Using the same concept of compound interests to work for you, you can become a millionaire if you save regularly. The younger you are, the more time the power of compound interests can work for you.
The dollar cost averaging is a method for people who wants to become rich but do not know anything about investment. Dollar cost averaging requires people to save regularly, and to channel the savings into investments.
How to become a millionaire by making wise investments is a skill that requires time and effort to hone. Even wise investors make foolish investments. Even wise investors got burn sometimes. How to become a millionaire means you have to know what you are investing, and the risk involves in every investment.
Conclusion to how to become a millionaire
How to become a millionaire is a question that many people wanted to know. However, decades from now, the question is no longer how to become a millionaire. The question will be how to become a billionaire.
With the current rate of inflation, the value of a million dollars will not be the same in the future. The value of a million dollars in fact weakens with each passing day.
So folks, do find the answer to how to become a millionaire. Once you become a millionaire, do continue to find the answer to how to become a billionaire. Maybe fifty years from now, the millionaire is not such a coveted title. Billionaire and zillionaire are the coveted titles of the future.
How to become a millionaire is still a valid question today. Do read a lot. Do read Think and Grow Rich, The Richest Man in Babylon and other books that are written by millionaires and billionaires for you.
Sunday, May 31, 2009
Sunday, May 24, 2009
Great Singapore Sale
The Great Singapore Sale 2009
The Great Singapore Sale is here again. The Great Singapore Sale 2009 officially starts on 29 May 09 and ends on 26 July 2009.
The Great Singapore Sale initially started off as an event for the tourists. The Singapore Tourism Board launched the first Great Singapore Sale to boost the retail industry in Singapore.
In recent years, the locals as well as tourists are getting the annual Great Singapore Sale fever. The Great Singapore Sale takes place during the June holiday. The retailers can hire the students to work part time to deal with the crowds. The students can make extra money, and spend on the Great Singapore Sale.
The official website of The Great Singapore Sale http://www.greatsingaporesale.com.sg promises discounts up to 70%.
I hate to see this phase “up to 70%”, since that could mean anything from 10% to 70%. The trick is to compare the price after discount across a few major department stores. The Great Singapore Sale is a time for the local and tourists to lose weight too.
Imagine walking from morning to night, shopping, shopping and shopping. Imagine, you compare price of the products from A to B to C, then back to A to buy the products. How much calories do you lose?
That is precisely what most shoppers do at Great Singapore Sale. They do not buy the products at the first shop they go in. They have to compare prices with a few other shops, before deciding which shop sells cheaper product.
Sometimes you will see shoppers walking from one end of Orchard Road to the other end, then revert just to buy the products that are selling at deeper discounts. When they reach the first shop, the products sold out. They have to return the next day to get the products. Great Singapore Sale is driving people crazy! Great Singapore Sale does make you walk more than usual.
When the Great Singapore Sale started years ago, only the shopping malls in town area joined the Great Singapore Sale craze. Now, the whole Singapore is displaying the logo of the Great Singapore Sale. Even the neighborhood shopping malls and the shops in the residential areas are offering deep discounts.
There are many stories of Great Singapore Sale. Some ladies spend a lot of money on handbags, shoes, clothing and cosmetics during Great Singapore Sale. They buy enough to stock the house for the next 12 months. Imagine buying enough shower foam, facial wash, perfume and cosmetics to last till the next Great Singapore Sale.
Some shoppers are very far-sighted. They buy enough gifts for Christmas and other festive gift-giving occasions, so that they do not have to pay higher prices when the festive seasons come.
Some parents buy enough clothing for their growing kids. Instead of buying just one single size, they buy a few sizes, so that their children can never outgrow all the sizes.
The teenagers will buy the latest technology gadgets, since they are able to get most of the latest models at half price.
The foreigners working in Singapore enjoy the Great Singapore Sale too. They are able to buy many products that cost less in Singapore, and ship the products home. Some of them ask their friends who are going on home leave to bring the products home.
Great Singapore Sale is as much for the tourists as for the locals. In fact, the locals benefit more. We are more familiar with neighbor shopping malls and shops. We know which products sell cheaper in the heartland, and which products sell cheaper in town area.
Great Singapore Sale is the time that many employees take vacation leave. They will dedicate the weekends and a few weekdays for shopping. They are buying for themselves, their children, their parents, their in-laws and their spouses.
They need a few days to buy for children. They arrange a few days to bring their parents and in-laws out to the shopping malls. They have to go different places to shop for different people.
Bring parents and in-laws to Chinatown areas is a logical choice. The shops there cater mainly to people of this age group. There are many Traditional Chinese Medical Halls in this locality. Great Singapore Sale is a great chance to get herbs and spices at deep discount.
Great Singapore Sale is also a time to enjoy food. Restaurants, fast foods, cafés and other eating outlets will roll out promotional set meals. After all, we do need a lot of energy walking here and there, carrying so many shopping bags of goods.
The organizers of Great Singapore Sale always run some lucky draws. Beside the official organizers of Great Singapore Sale, the management of shopping malls and the manufacturers of products also run their own lucky draws. There will be a lot of chances to win big money. It is an exciting time to complete the lucky draw forms and to scratch the instant draw cards. The joy of shopping is reflected on the many happy faces of consumers.
Many shopping malls arrange for shoppers to enjoy late night shopping during Great Singapore Sale. The atmosphere of shopping is very different in the middle of the night than during the day time. Somehow, shopping at 10 pm gives a more romantic feel to the experience of shopping.
There are some 24 hours hypermarkets in Singapore. Shopping for grocery in the middle of the night is nothing new. However, shopping for the pair of shoes, for the blouses and office wears at 10:30 pm is only possible during the Great Singapore Sale.
Hopefully, the Great Singapore Sale event can grow till a stage to enable 24 hours shopping experience.
The Great Singapore Sale lasts for 2 months. The shopping malls will face an increase in shoppers, but not too crowded to suffocate anyone. There is room enough to move around the shopping mall leisurely.
There is time for you to try all the tester products. There is time for you to try out the cakes, muffins and whatever the bakery and eatery offers you. There are some people who prefer to shop at the later part of Great Singapore Sale, after the June holiday.
However, this shopping tactic does not work for those people with odd sizes. When they want to buy the extremely small shoes sizes, or extremely large shoes sizes, they often find that shops do not keep a lot of stocks for odd sizes. The best shopping tactic is to shop at regular interval during Great Singapore Sale.
Great Singapore Sale is coming! So folks, what are you going to buy during the Great Singapore Sale? Do enjoy the shopping experience during the Great Singapore Sale!
The Great Singapore Sale is here again. The Great Singapore Sale 2009 officially starts on 29 May 09 and ends on 26 July 2009.
The Great Singapore Sale initially started off as an event for the tourists. The Singapore Tourism Board launched the first Great Singapore Sale to boost the retail industry in Singapore.
In recent years, the locals as well as tourists are getting the annual Great Singapore Sale fever. The Great Singapore Sale takes place during the June holiday. The retailers can hire the students to work part time to deal with the crowds. The students can make extra money, and spend on the Great Singapore Sale.
The official website of The Great Singapore Sale http://www.greatsingaporesale.com.sg promises discounts up to 70%.
I hate to see this phase “up to 70%”, since that could mean anything from 10% to 70%. The trick is to compare the price after discount across a few major department stores. The Great Singapore Sale is a time for the local and tourists to lose weight too.
Imagine walking from morning to night, shopping, shopping and shopping. Imagine, you compare price of the products from A to B to C, then back to A to buy the products. How much calories do you lose?
That is precisely what most shoppers do at Great Singapore Sale. They do not buy the products at the first shop they go in. They have to compare prices with a few other shops, before deciding which shop sells cheaper product.
Sometimes you will see shoppers walking from one end of Orchard Road to the other end, then revert just to buy the products that are selling at deeper discounts. When they reach the first shop, the products sold out. They have to return the next day to get the products. Great Singapore Sale is driving people crazy! Great Singapore Sale does make you walk more than usual.
When the Great Singapore Sale started years ago, only the shopping malls in town area joined the Great Singapore Sale craze. Now, the whole Singapore is displaying the logo of the Great Singapore Sale. Even the neighborhood shopping malls and the shops in the residential areas are offering deep discounts.
There are many stories of Great Singapore Sale. Some ladies spend a lot of money on handbags, shoes, clothing and cosmetics during Great Singapore Sale. They buy enough to stock the house for the next 12 months. Imagine buying enough shower foam, facial wash, perfume and cosmetics to last till the next Great Singapore Sale.
Some shoppers are very far-sighted. They buy enough gifts for Christmas and other festive gift-giving occasions, so that they do not have to pay higher prices when the festive seasons come.
Some parents buy enough clothing for their growing kids. Instead of buying just one single size, they buy a few sizes, so that their children can never outgrow all the sizes.
The teenagers will buy the latest technology gadgets, since they are able to get most of the latest models at half price.
The foreigners working in Singapore enjoy the Great Singapore Sale too. They are able to buy many products that cost less in Singapore, and ship the products home. Some of them ask their friends who are going on home leave to bring the products home.
Great Singapore Sale is as much for the tourists as for the locals. In fact, the locals benefit more. We are more familiar with neighbor shopping malls and shops. We know which products sell cheaper in the heartland, and which products sell cheaper in town area.
Great Singapore Sale is the time that many employees take vacation leave. They will dedicate the weekends and a few weekdays for shopping. They are buying for themselves, their children, their parents, their in-laws and their spouses.
They need a few days to buy for children. They arrange a few days to bring their parents and in-laws out to the shopping malls. They have to go different places to shop for different people.
Bring parents and in-laws to Chinatown areas is a logical choice. The shops there cater mainly to people of this age group. There are many Traditional Chinese Medical Halls in this locality. Great Singapore Sale is a great chance to get herbs and spices at deep discount.
Great Singapore Sale is also a time to enjoy food. Restaurants, fast foods, cafés and other eating outlets will roll out promotional set meals. After all, we do need a lot of energy walking here and there, carrying so many shopping bags of goods.
The organizers of Great Singapore Sale always run some lucky draws. Beside the official organizers of Great Singapore Sale, the management of shopping malls and the manufacturers of products also run their own lucky draws. There will be a lot of chances to win big money. It is an exciting time to complete the lucky draw forms and to scratch the instant draw cards. The joy of shopping is reflected on the many happy faces of consumers.
Many shopping malls arrange for shoppers to enjoy late night shopping during Great Singapore Sale. The atmosphere of shopping is very different in the middle of the night than during the day time. Somehow, shopping at 10 pm gives a more romantic feel to the experience of shopping.
There are some 24 hours hypermarkets in Singapore. Shopping for grocery in the middle of the night is nothing new. However, shopping for the pair of shoes, for the blouses and office wears at 10:30 pm is only possible during the Great Singapore Sale.
Hopefully, the Great Singapore Sale event can grow till a stage to enable 24 hours shopping experience.
The Great Singapore Sale lasts for 2 months. The shopping malls will face an increase in shoppers, but not too crowded to suffocate anyone. There is room enough to move around the shopping mall leisurely.
There is time for you to try all the tester products. There is time for you to try out the cakes, muffins and whatever the bakery and eatery offers you. There are some people who prefer to shop at the later part of Great Singapore Sale, after the June holiday.
However, this shopping tactic does not work for those people with odd sizes. When they want to buy the extremely small shoes sizes, or extremely large shoes sizes, they often find that shops do not keep a lot of stocks for odd sizes. The best shopping tactic is to shop at regular interval during Great Singapore Sale.
Great Singapore Sale is coming! So folks, what are you going to buy during the Great Singapore Sale? Do enjoy the shopping experience during the Great Singapore Sale!
Sunday, May 17, 2009
Early Retirement
Early Retirement! How nice to have a choice of early retirement!
Early retirement is a dream for most office workers. Do you aim for early retirement? For most workers, early retirement is just a dream. They know that early retirement is not possible with their income and financial commitments. They do not really plan for early retirement. They cannot give you the ideal age for early retirement, because they have never thought of it.
Early retirement is only possible if, and when, they strike the lottery.
That is why people like to gamble. The risk of losing just one dollar a week is nothing compare to the dream of early retirement.
However, many people who are rich enough to opt for early retirement do not want to retire. In the minds of many rich people, early retirement is not an option. Many of them are business owners. They are reluctant to pass the business to anyone else. They enjoy their work and prefer to work as long as they can. The thought of early retirement simply does not come into their minds.
If given a choice, do you opt for early retirement? What do you mean by early retirement? What exactly are you retiring from? Supposing you are able to retire young and rich, in your 30s, how are you going to spend the rest of your time? Early retirement from work is not so rosy if you have nothing to do everyday.
I post the question in mylot discussion forum entitled “If given a choice, when do you want to retire?” I have in mind early retirement when I post this question. You can read the discussion here http://www.mylot.com/w/discussions/1987232.aspx
When I post the question, I thought that many people like early retirement. However, I am surprised to read that many people do not look towards to early retirement. And reading through the post, I can see that early retirement means different thing to different people.
One mylotter, Sophie, even declares that she wants to retire after the age of 80. Her family has very good genes. Her relatives are still very active in their 90s. Retiring at the age of 80 is not early retirement. It is not even regular retirement age.
It does sound scary if you live to 120 years old, and you opt for early retirement at the age of 40. Imagine 80 years of doing nothing, how miserable can life be!
Some people who opt for early retirement from the full time employment to look after children. They are finding their enjoyment in life by caring for their families. Even though housework and taking care of children are a lot of hard work, much more taxing than full time employment. They are happy to get out of rat race.
In this sense, early retirement means retiring from full time employment. They are not opting for early retirement to spend time on the beach. They will still find home based job or freelance assignments.
Some people define early retirement as retiring from working for others. That does not mean early retirement from the productive society. They want to start a business or do whatever they like. It is ironically that some people start business, so that they can opt for early retirement. Yet there are people who opt to start business, only after their early retirement from corporate world.
Some people do not want early retirements. They have no choice. Their employers retrenched them. They are unable to find any job. Early retirement is not welcome, but they have no choice. Those who have a lot of cash in the bank, can sit back and enjoy their early retirements. Those who do not have enough money, and have financial commitments, have to try means and ways to get another job. They are the ones that hate involuntary early retirement.
When most people think of early retirement, they have a vision of abundance. They have visions of unlimited cash in bank. They have visions of traveling round the world with their loved ones, without any worry about money. In reality, early retirement is often involuntary.
If you are retrenched at the age of 55, what is the likelihood of you getting a job again? It is not easy to get a job. However, that does not mean that you cannot have a regular source of income. Bear in mind that involuntary early retirement is not the end of the world.
Starting a business is one way to ensure you have income after that involuntary early retirement. You need to have a will to succeed. You need to make good use of all the skills that you have. You can rope in your children to help you in the business.
For example, you like to eat chicken rice. You do not know how to cook. However, you appreciate eating chicken rice by good cooks. Can you learn to cook chicken rice? Since you can be fussy over the chicken rice, you can experiment different ways of cooking chicken rice till perfection.
Once you master the secret recipe to cook the perfect chicken rice, you can rent a place to sell chicken rice. Do get your family to support you. Selling cooked food is a laborious job. It is harder than sitting in office from 8 am to 6 pm. Involuntary early retirement often make people look older than their actual age. Keeping busy after that involuntary early retirement can keep you young and active.
Bear in mind that nobody can force you to take involuntary early retirement when you are your own boss. Involuntary early retirement is a blessing when you discover your talent, and able to make good use of your talent. Involuntary early retirement is the time for you to re-think the topic of making money.
Early retirement is a goal for most employees. To turn the goal of early retirement a reality, you need to spend time for adequate planning.
Early retirement requires that you have enough money to live on for the rest of your lives. You have to decide how early is early retirement – is it 30 years old, 40 years old, 45 years old, 50 years old or 55 years old? Without a definite retirement age, you cannot calculate how much money you need for retirement.
Assuming that you start working at 20 years old, and aim for early retirement at the age of 30, you have only ten years to accumulate all the money for retirement. Assuming that your family has one of the coveted longevity genes, you can live till ripe of age of 100 years old. You need to have enough money to live for another 70 years.
Even though money wisely invested can generate passive income, you do need a large capital. Some people do make a lot of money in just ten years, and they can afford to opt for early retirement. Working for others is not the way to make enough money for early retirement. Most people who work for others are not able to afford early retirement.
Do read and learn from those who can afford to choose early retirement at the age of 30. Do learn how they make money so that they can enjoy an early retirement. Do learn how they spend their time after early retirement from their businesses.
Without the capital, you cannot reasonably believe that money can grow. Further consideration includes money for your loved ones. At the age of 30, you do have a chance to have a big family. Assuming that you have 4 children, are you able to support the lifestyle of a spouse and 4 children? What about your aging parents? Have you factored in the medical expenses for them?
Early retirement is a blessing only when you over budget for all likely expenses. Early retirement is a nightmare when you do not plan properly. Imagine you opt for early retirement at the age of 30, and run out of money at the age of 70, how on earth are you going to get more money at that age?
You have not worked for 40 years, and you are still in good physical condition to live for another 30 years. Yet your money runs out. It is too late to regret your decision of early retirement.
So folks, please be prudent in the financial planning for early retirement. Please double your expenses and half your expected income. If you rely on the dividends or rental income to fund your lifestyle after your early retirement, please half the expected income.
In a recession, it is not possible for most companies to meet your target. Your rental apartments and houses are not able to command your targeted rental income.
When you are able to choose early retirement, you can reasonably expect a few recessions ahead.
Nobody knows how much medical treatments will be in the future. It is prudent to over estimate the future medical cost. Early retirement means that the day of incurring medical expenses is still far ahead. That makes estimation more difficult.
Planning for early retirement is not just a monetary decision. Early retirement involves knowing how you are going to spend your time. If you are restless on a rainy Sunday, imagine all the days ahead of you with nothing to do.
Early retirement means you have time. All the years, months, days, hours, minutes and seconds that are not spent in working. How do you spend your time after early retirement? Early retirement means you are still young and active.
You cannot reasonably spend a lot of time watching TV. If spending time watching TV is your idea of early retirement, you will get bored within a few months.
Early retirement does not mean all the time at the beach. Early retirement does not mean all the time cruising the world. Early retirement does not mean all the time in the pub. Early retirement does not mean all the time fish.
Early retirement is retiring from working life. However, you cannot spend all the time at the beach or traveling round the world. You have to find an activity that you are passionate about, so that you will not regret the choice of early retirement.
When you are able to afford early retirement, your children cannot. They have to attend school. They need you to watch their games. They need you around with them. They cannot let you spend all the time at the pristine beach after your early retirement.
You have to find something to do, that also allow you to spend time with family after your early retirement.
Before you answer yes or not to early retirement, please consider all the questions below:
Do you want early retirement? Do you plan for early retirement? What does early retirement mean? Do you mean early retirement from full time employment? Do you mean early retirement from business? Do you mean early retirement from society? What age do you considered as early retirement? If the retirement age is 62 years old, do you consider retiring at age 61 as early retirement? How much money do you need to support active lifestyle after early retirement? What if you face involuntary early retirement, how can you deal with it?
Early retirement is an interesting topic. Give some thoughts to it, you are able to choose early retirement with proper planning.
Early retirement is a dream for most office workers. Do you aim for early retirement? For most workers, early retirement is just a dream. They know that early retirement is not possible with their income and financial commitments. They do not really plan for early retirement. They cannot give you the ideal age for early retirement, because they have never thought of it.
Early retirement is only possible if, and when, they strike the lottery.
That is why people like to gamble. The risk of losing just one dollar a week is nothing compare to the dream of early retirement.
However, many people who are rich enough to opt for early retirement do not want to retire. In the minds of many rich people, early retirement is not an option. Many of them are business owners. They are reluctant to pass the business to anyone else. They enjoy their work and prefer to work as long as they can. The thought of early retirement simply does not come into their minds.
If given a choice, do you opt for early retirement? What do you mean by early retirement? What exactly are you retiring from? Supposing you are able to retire young and rich, in your 30s, how are you going to spend the rest of your time? Early retirement from work is not so rosy if you have nothing to do everyday.
I post the question in mylot discussion forum entitled “If given a choice, when do you want to retire?” I have in mind early retirement when I post this question. You can read the discussion here http://www.mylot.com/w/discussions/1987232.aspx
When I post the question, I thought that many people like early retirement. However, I am surprised to read that many people do not look towards to early retirement. And reading through the post, I can see that early retirement means different thing to different people.
One mylotter, Sophie, even declares that she wants to retire after the age of 80. Her family has very good genes. Her relatives are still very active in their 90s. Retiring at the age of 80 is not early retirement. It is not even regular retirement age.
It does sound scary if you live to 120 years old, and you opt for early retirement at the age of 40. Imagine 80 years of doing nothing, how miserable can life be!
Some people who opt for early retirement from the full time employment to look after children. They are finding their enjoyment in life by caring for their families. Even though housework and taking care of children are a lot of hard work, much more taxing than full time employment. They are happy to get out of rat race.
In this sense, early retirement means retiring from full time employment. They are not opting for early retirement to spend time on the beach. They will still find home based job or freelance assignments.
Some people define early retirement as retiring from working for others. That does not mean early retirement from the productive society. They want to start a business or do whatever they like. It is ironically that some people start business, so that they can opt for early retirement. Yet there are people who opt to start business, only after their early retirement from corporate world.
Some people do not want early retirements. They have no choice. Their employers retrenched them. They are unable to find any job. Early retirement is not welcome, but they have no choice. Those who have a lot of cash in the bank, can sit back and enjoy their early retirements. Those who do not have enough money, and have financial commitments, have to try means and ways to get another job. They are the ones that hate involuntary early retirement.
When most people think of early retirement, they have a vision of abundance. They have visions of unlimited cash in bank. They have visions of traveling round the world with their loved ones, without any worry about money. In reality, early retirement is often involuntary.
If you are retrenched at the age of 55, what is the likelihood of you getting a job again? It is not easy to get a job. However, that does not mean that you cannot have a regular source of income. Bear in mind that involuntary early retirement is not the end of the world.
Starting a business is one way to ensure you have income after that involuntary early retirement. You need to have a will to succeed. You need to make good use of all the skills that you have. You can rope in your children to help you in the business.
For example, you like to eat chicken rice. You do not know how to cook. However, you appreciate eating chicken rice by good cooks. Can you learn to cook chicken rice? Since you can be fussy over the chicken rice, you can experiment different ways of cooking chicken rice till perfection.
Once you master the secret recipe to cook the perfect chicken rice, you can rent a place to sell chicken rice. Do get your family to support you. Selling cooked food is a laborious job. It is harder than sitting in office from 8 am to 6 pm. Involuntary early retirement often make people look older than their actual age. Keeping busy after that involuntary early retirement can keep you young and active.
Bear in mind that nobody can force you to take involuntary early retirement when you are your own boss. Involuntary early retirement is a blessing when you discover your talent, and able to make good use of your talent. Involuntary early retirement is the time for you to re-think the topic of making money.
Early retirement is a goal for most employees. To turn the goal of early retirement a reality, you need to spend time for adequate planning.
Early retirement requires that you have enough money to live on for the rest of your lives. You have to decide how early is early retirement – is it 30 years old, 40 years old, 45 years old, 50 years old or 55 years old? Without a definite retirement age, you cannot calculate how much money you need for retirement.
Assuming that you start working at 20 years old, and aim for early retirement at the age of 30, you have only ten years to accumulate all the money for retirement. Assuming that your family has one of the coveted longevity genes, you can live till ripe of age of 100 years old. You need to have enough money to live for another 70 years.
Even though money wisely invested can generate passive income, you do need a large capital. Some people do make a lot of money in just ten years, and they can afford to opt for early retirement. Working for others is not the way to make enough money for early retirement. Most people who work for others are not able to afford early retirement.
Do read and learn from those who can afford to choose early retirement at the age of 30. Do learn how they make money so that they can enjoy an early retirement. Do learn how they spend their time after early retirement from their businesses.
Without the capital, you cannot reasonably believe that money can grow. Further consideration includes money for your loved ones. At the age of 30, you do have a chance to have a big family. Assuming that you have 4 children, are you able to support the lifestyle of a spouse and 4 children? What about your aging parents? Have you factored in the medical expenses for them?
Early retirement is a blessing only when you over budget for all likely expenses. Early retirement is a nightmare when you do not plan properly. Imagine you opt for early retirement at the age of 30, and run out of money at the age of 70, how on earth are you going to get more money at that age?
You have not worked for 40 years, and you are still in good physical condition to live for another 30 years. Yet your money runs out. It is too late to regret your decision of early retirement.
So folks, please be prudent in the financial planning for early retirement. Please double your expenses and half your expected income. If you rely on the dividends or rental income to fund your lifestyle after your early retirement, please half the expected income.
In a recession, it is not possible for most companies to meet your target. Your rental apartments and houses are not able to command your targeted rental income.
When you are able to choose early retirement, you can reasonably expect a few recessions ahead.
Nobody knows how much medical treatments will be in the future. It is prudent to over estimate the future medical cost. Early retirement means that the day of incurring medical expenses is still far ahead. That makes estimation more difficult.
Planning for early retirement is not just a monetary decision. Early retirement involves knowing how you are going to spend your time. If you are restless on a rainy Sunday, imagine all the days ahead of you with nothing to do.
Early retirement means you have time. All the years, months, days, hours, minutes and seconds that are not spent in working. How do you spend your time after early retirement? Early retirement means you are still young and active.
You cannot reasonably spend a lot of time watching TV. If spending time watching TV is your idea of early retirement, you will get bored within a few months.
Early retirement does not mean all the time at the beach. Early retirement does not mean all the time cruising the world. Early retirement does not mean all the time in the pub. Early retirement does not mean all the time fish.
Early retirement is retiring from working life. However, you cannot spend all the time at the beach or traveling round the world. You have to find an activity that you are passionate about, so that you will not regret the choice of early retirement.
When you are able to afford early retirement, your children cannot. They have to attend school. They need you to watch their games. They need you around with them. They cannot let you spend all the time at the pristine beach after your early retirement.
You have to find something to do, that also allow you to spend time with family after your early retirement.
Before you answer yes or not to early retirement, please consider all the questions below:
Do you want early retirement? Do you plan for early retirement? What does early retirement mean? Do you mean early retirement from full time employment? Do you mean early retirement from business? Do you mean early retirement from society? What age do you considered as early retirement? If the retirement age is 62 years old, do you consider retiring at age 61 as early retirement? How much money do you need to support active lifestyle after early retirement? What if you face involuntary early retirement, how can you deal with it?
Early retirement is an interesting topic. Give some thoughts to it, you are able to choose early retirement with proper planning.
Sunday, May 10, 2009
How to save money?
How to save money? You are not the only one asking this question.
Many people around the world are asking themselves how to save money. According to Google Adword tool, “how to save money” is asked 49,500 times worldwide in the month of April. And that is only from people who used Google to search. There are so many people using other search engines to find out how to save money.
They are far more people asking each other how to save money. People at the supermarket are asking their friends and strangers how to save money. When is the last time you ask this question “how to save money?”
Knowing how to save money is one of the ways to get rich. Have you seen any rich people who do not know how to save money?
If they do not even know how to save money, where on earth they got the money from?
In the current recession, knowing how to save money can make a positive difference to the quality of life you are enjoying.
Knowing how to save money can help you stretch your dollar, and let you and your family sleep better at night.
This article will touch on many ways to save money.
Learn How to save money by wasting less
The first step to save money is by using less and wasting less.
Do you know how to save money by wasting less?
For example, you know that you are able to save money by cooking at home instead of eating out. Ask yourself this question, how much food is wasted per meal. How much uneaten food have you thrown out?
Instead of asking yourself how to save money on food, you can ask yourself how to make use of leftovers. You have to ask yourself this question even before you start to cook. If you are cooking white rice for dinner, how are you going to make use of leftovers? Can you keep the rice, and used it as ingredient for fried rice instead?
Do you have leftover soups? Soups are the best leftovers. You can heat up the soup, and add in fresh ingredients to make a whole pot of soup for dinner the next day.
Do you have leftover burgers? Can you keep the burgers, and heat it up for breakfast tomorrow?
Keep asking yourself how to save money from recycling the leftovers. Learn how to save money by not wasting food.
The next common wastage you have to tackle is the wastage of electricity. How to save money by reducing electricity usage? Can you turn off the computer, televisions, lights and other devices when you are not using them? Can you sleep an hour earlier so that you can save an hour usage of electricity?
If you are not making use of the electricity to make money for you, why not just go to bed earlier? Unless you are holding a full time job, and you are able to take on additional freelance jobs at night, you are making use of electricity to make money.
Other than that, any usage of electricity for watching TV or surfing the Internet is a sheer waste of energy.
Can you learn how to save money by using less water? Can you take a shorter shower so that you waste less water? Can you keep some of the water from your shower to mop the floor? Can you keep some of the water from cleaning vegetables to water your plants?
Learn how to save money by examining your day to day habit of water usage. You can learn how to save money in recycling the waste water.
Learning how to save money does involve making a personal sacrifice.
Learn how to save money penny by penny
Do you respect those small changes? They are insignificant if you are thinking of saving enough to pay off the house.
However, the sea is made up of water droplets. A droplet of water is not much. A lot of water droplets do make up the ocean.
Similarly, the small changes that you hold in your hands are not a lot of money. Only when you accumulate a lot of small coins, then the money will add up.
Have you learnt how to save money by saving all the small changes? Can you use the empty biscuit tin to save the small changes? Do not worry that the thief will come and take away the biscuit tins. Thief is not stupid. Stealing the biscuit tin full of money is not worth his time.
Do learn how to save money by respecting the value of small coins. Learn how to save money by cutting back all the small expenses. Do not buy the can of soft drink with your small changes, just because it is cheap. Do remember that every penny saved is every penny earned.
Learn how to save money by doing it yourself
Do you have the habit of hiring others to do all the small tasks that you can handle yourself? Since you have time to watch TV, you will have time to do all the small tasks.
Do you know how to make coffee? If so, why do you have to buy the coffee from the cafe? Can you wake up just 3 minutes earlier to make that cup of coffee?
The trick to learning how to save money is by calculating the cost of your labor. Making a cup of coffee at home takes about 3 minutes. Is 3 minutes of effort plus the cost of coffee beans more than the cost of buying out? Which is cheaper? How much can you save by making coffee at home?
Do calculate it on a daily basis, monthly basis and yearly basis. You will be surprised to see that the amount adds up to a few hundred dollars per year.
Unless the cost of your time is as high as Bill Gates or Warren Buffet, you can save more money by doing it yourself.
Do learn how to save money by doing it yourself. Do learn how to calculate the savings of doing it yourself.
Learn how to save money by changing your shopping habit
What is your grocery shopping habit? Do examine your shopping, and learn how to save money by changing the habit.
How far are you from the supermarket? Can you walk instead of drive? If the walking takes 20 minutes, can you treat it as part of your exercise routine?
By taking a 20 minutes walk to the shopping mall, and taking a 20 minutes walk home, you are losing weight without spending money on weight loss program.
If you are able to walk to the supermarket, you can go there a few times a week. You save a lot of money on petrol, parking and diet pill. Since you are walking, and carry heavy things, you are less likely to overspend your money building unnecessary goods. For example, you buy 2 litres of laundry liquid refills, a chicken and a few potatoes. How much more things can you buy? You are less likely to go for the 6 packs beer.
If you are not able to walk to the supermarket, can you do your grocery shopping less frequently? Drive to the supermarket and buy in bulk, enough for 10 days usage. Buy once in every 7 days or 10 days. You will save a lot of money on gas.
Assuming you are in the habit of spending $30 every time you go to the supermarket. You used to go there every other day. You are spending $150 for 10 days.
It does not seem a lot when you spend $30 every other day. However, when you shop only once in every 10 days, and spend $100 on that trip, you will feel awful spending the money. After all, you are so used to spending $30, and now you are forking out $100. How likely are you to spend on junk food?
Do examine all your shopping habits, including the tendency to buy the little snacks for TV watching. Do learn how to save money by changing your shopping habits.
If you must drive to run errands, do learn how to save money by arranging all the errands on the same day. Preferably the day you do your grocery shopping.
Learn how to save money by going to garage sales
Do you have the habit of going to garage sales? Garage sales are great ideas for you to get toys and clothing for your young children. There is no point buying all the new toys when you know that children get tired of playing the same toys for a few weeks.
Make going to garage sales part of your family outings. You are saving money by bringing your family to garage sales and not to Disneyland.
Garage sales can be an educating experience. You can learn how to save money by seeing how folks recycle their used products. You can ask them how to save money cleaning house. You can ask them how to save money on cooking. People are talkative. They want to feel important. They like to boast to you how good they are at saving money.
Do make it a habit to talk to people, keep on asking them how to save money. Make it a habit to go to a few garage sales in a month. Remember to ask them how to save money.
Learn how to save money by using coupons
Do you think that clipping coupons is a very annoying habit? Do you find coupons cutting a time consuming idea? Do you calculate how much money these coupons are saving for you in a year?
If you have the habit of keeping all your grocery receipts, do take them out now. Calculate how much these little irritating coupons are saving for you.
Learn how to save money by using the coupons at the right time. Read the small print of the coupons. Does it say that you cannot use the coupons when there is a sale? If it specifically says so, then you cannot use it concurrently with a sale.
However, not all coupons have this condition. You can use coupons when the items are on sale. Do learn how to save money by using coupons at the right time.
When you see coupons that other shoppers are using, do approach them to find out where they get the coupon. There are many online sites to print out free coupons. There are many newspaper, and magazines with coupons.
At the same time, do ask them how to save money on grocery shopping.
Learn how to save money by product substitution
Before you spend money on any product, please consider cheaper substitution.
For example, before you put the mouth wash into the trolley, can you think of any substitution for the mouth wash? Can you use salt water instead? Using salt water instead of expensive mouth wash can save a lot of money for you in a year.
Before you buy the floor cleaning detergent, can you consider any substitution for the floor cleaning detergent? Can you use vinegar and lemon to clean your house instead?
You are likely to buy lemons for cooking, and for making iced lemon tea, can you soak the leftover lemon skin into the water overnight, and use the water for cleaning your house?
Do learn how to save money by finding product substitution. If you are unable to think of any, please ask the generation who survives the Great Depression. They lived at the time when all the detergents and many products are not invented.
Do ask them how to save money. They have 80 to 100 years of experience behind them. They are willing to share the knowledge of how to save money with you.
Learn how to save money by asking others
Your friends and colleagues can be a good source of information. Do they have much lesser mobile bills than you? Do they have a bigger house, and less electricity bill? Do they pay less on gas and insurance?
You can chat with them, and ask them how to save money. Do ask specifically. Do not just ask them how to save money. That is too board a question for them to answer.
Do ask specifically how to save money on insurance, how to save money on mobile bill, how to save money on Internet connection, how to save money on textbooks, how to save money on baby products, how to save money on education, how to save money on medical care, how to save money cooking for elderly folks, how to save money on business suits, how to save money on lunch etc.
Your friends are very willing to share their knowledge, provided you have generous enough to share yours.
Ask the people who are surviving on food stamps, too. They have to learn how to save money since money is limited. They have a lot of knowledge gained by painful experience.
Do you wonder why the children of the poor are healthier? Can you ask their parents what they eat and do? Can you ask them how to save money, and produce healthy children?
They are willing to tell you. Even if they are poor, they love to know that they have something to teach you. Do spend time talking to them. Do spend time asking everyone you meet “how to save money?”
Whenever you hear an interesting discussion revolving the topic “how to save money”, do listen attentively. You can pretend that you are looking for something in your bag. You can pretend to admire the item nearby. No matter what is your excuse for standing near them, you must listen attentively. The words are free, but it can help you save a lot of money.
There is no end to learning how to save money. People living in the past asked “how to save money?” People in the future will ask “how to save money?” Young people ask “how to save money?” Old people ask “how to save money?” The poor asks “how to save money?”
The rich also asks “how to save money?” except that they ask in a different way. They want to know what the value for their money is.
As long as you are living, you need to know how to save money. As long as you are living, you will keep asking how to save money. It is better to learn how to save money earlier in life, than later.
The question only ceases when you are in your permanent home, where money is not a concern.
So folks, how to save money? Do find out, and share your knowledge.
Many people around the world are asking themselves how to save money. According to Google Adword tool, “how to save money” is asked 49,500 times worldwide in the month of April. And that is only from people who used Google to search. There are so many people using other search engines to find out how to save money.
They are far more people asking each other how to save money. People at the supermarket are asking their friends and strangers how to save money. When is the last time you ask this question “how to save money?”
Knowing how to save money is one of the ways to get rich. Have you seen any rich people who do not know how to save money?
If they do not even know how to save money, where on earth they got the money from?
In the current recession, knowing how to save money can make a positive difference to the quality of life you are enjoying.
Knowing how to save money can help you stretch your dollar, and let you and your family sleep better at night.
This article will touch on many ways to save money.
Learn How to save money by wasting less
The first step to save money is by using less and wasting less.
Do you know how to save money by wasting less?
For example, you know that you are able to save money by cooking at home instead of eating out. Ask yourself this question, how much food is wasted per meal. How much uneaten food have you thrown out?
Instead of asking yourself how to save money on food, you can ask yourself how to make use of leftovers. You have to ask yourself this question even before you start to cook. If you are cooking white rice for dinner, how are you going to make use of leftovers? Can you keep the rice, and used it as ingredient for fried rice instead?
Do you have leftover soups? Soups are the best leftovers. You can heat up the soup, and add in fresh ingredients to make a whole pot of soup for dinner the next day.
Do you have leftover burgers? Can you keep the burgers, and heat it up for breakfast tomorrow?
Keep asking yourself how to save money from recycling the leftovers. Learn how to save money by not wasting food.
The next common wastage you have to tackle is the wastage of electricity. How to save money by reducing electricity usage? Can you turn off the computer, televisions, lights and other devices when you are not using them? Can you sleep an hour earlier so that you can save an hour usage of electricity?
If you are not making use of the electricity to make money for you, why not just go to bed earlier? Unless you are holding a full time job, and you are able to take on additional freelance jobs at night, you are making use of electricity to make money.
Other than that, any usage of electricity for watching TV or surfing the Internet is a sheer waste of energy.
Can you learn how to save money by using less water? Can you take a shorter shower so that you waste less water? Can you keep some of the water from your shower to mop the floor? Can you keep some of the water from cleaning vegetables to water your plants?
Learn how to save money by examining your day to day habit of water usage. You can learn how to save money in recycling the waste water.
Learning how to save money does involve making a personal sacrifice.
Learn how to save money penny by penny
Do you respect those small changes? They are insignificant if you are thinking of saving enough to pay off the house.
However, the sea is made up of water droplets. A droplet of water is not much. A lot of water droplets do make up the ocean.
Similarly, the small changes that you hold in your hands are not a lot of money. Only when you accumulate a lot of small coins, then the money will add up.
Have you learnt how to save money by saving all the small changes? Can you use the empty biscuit tin to save the small changes? Do not worry that the thief will come and take away the biscuit tins. Thief is not stupid. Stealing the biscuit tin full of money is not worth his time.
Do learn how to save money by respecting the value of small coins. Learn how to save money by cutting back all the small expenses. Do not buy the can of soft drink with your small changes, just because it is cheap. Do remember that every penny saved is every penny earned.
Learn how to save money by doing it yourself
Do you have the habit of hiring others to do all the small tasks that you can handle yourself? Since you have time to watch TV, you will have time to do all the small tasks.
Do you know how to make coffee? If so, why do you have to buy the coffee from the cafe? Can you wake up just 3 minutes earlier to make that cup of coffee?
The trick to learning how to save money is by calculating the cost of your labor. Making a cup of coffee at home takes about 3 minutes. Is 3 minutes of effort plus the cost of coffee beans more than the cost of buying out? Which is cheaper? How much can you save by making coffee at home?
Do calculate it on a daily basis, monthly basis and yearly basis. You will be surprised to see that the amount adds up to a few hundred dollars per year.
Unless the cost of your time is as high as Bill Gates or Warren Buffet, you can save more money by doing it yourself.
Do learn how to save money by doing it yourself. Do learn how to calculate the savings of doing it yourself.
Learn how to save money by changing your shopping habit
What is your grocery shopping habit? Do examine your shopping, and learn how to save money by changing the habit.
How far are you from the supermarket? Can you walk instead of drive? If the walking takes 20 minutes, can you treat it as part of your exercise routine?
By taking a 20 minutes walk to the shopping mall, and taking a 20 minutes walk home, you are losing weight without spending money on weight loss program.
If you are able to walk to the supermarket, you can go there a few times a week. You save a lot of money on petrol, parking and diet pill. Since you are walking, and carry heavy things, you are less likely to overspend your money building unnecessary goods. For example, you buy 2 litres of laundry liquid refills, a chicken and a few potatoes. How much more things can you buy? You are less likely to go for the 6 packs beer.
If you are not able to walk to the supermarket, can you do your grocery shopping less frequently? Drive to the supermarket and buy in bulk, enough for 10 days usage. Buy once in every 7 days or 10 days. You will save a lot of money on gas.
Assuming you are in the habit of spending $30 every time you go to the supermarket. You used to go there every other day. You are spending $150 for 10 days.
It does not seem a lot when you spend $30 every other day. However, when you shop only once in every 10 days, and spend $100 on that trip, you will feel awful spending the money. After all, you are so used to spending $30, and now you are forking out $100. How likely are you to spend on junk food?
Do examine all your shopping habits, including the tendency to buy the little snacks for TV watching. Do learn how to save money by changing your shopping habits.
If you must drive to run errands, do learn how to save money by arranging all the errands on the same day. Preferably the day you do your grocery shopping.
Learn how to save money by going to garage sales
Do you have the habit of going to garage sales? Garage sales are great ideas for you to get toys and clothing for your young children. There is no point buying all the new toys when you know that children get tired of playing the same toys for a few weeks.
Make going to garage sales part of your family outings. You are saving money by bringing your family to garage sales and not to Disneyland.
Garage sales can be an educating experience. You can learn how to save money by seeing how folks recycle their used products. You can ask them how to save money cleaning house. You can ask them how to save money on cooking. People are talkative. They want to feel important. They like to boast to you how good they are at saving money.
Do make it a habit to talk to people, keep on asking them how to save money. Make it a habit to go to a few garage sales in a month. Remember to ask them how to save money.
Learn how to save money by using coupons
Do you think that clipping coupons is a very annoying habit? Do you find coupons cutting a time consuming idea? Do you calculate how much money these coupons are saving for you in a year?
If you have the habit of keeping all your grocery receipts, do take them out now. Calculate how much these little irritating coupons are saving for you.
Learn how to save money by using the coupons at the right time. Read the small print of the coupons. Does it say that you cannot use the coupons when there is a sale? If it specifically says so, then you cannot use it concurrently with a sale.
However, not all coupons have this condition. You can use coupons when the items are on sale. Do learn how to save money by using coupons at the right time.
When you see coupons that other shoppers are using, do approach them to find out where they get the coupon. There are many online sites to print out free coupons. There are many newspaper, and magazines with coupons.
At the same time, do ask them how to save money on grocery shopping.
Learn how to save money by product substitution
Before you spend money on any product, please consider cheaper substitution.
For example, before you put the mouth wash into the trolley, can you think of any substitution for the mouth wash? Can you use salt water instead? Using salt water instead of expensive mouth wash can save a lot of money for you in a year.
Before you buy the floor cleaning detergent, can you consider any substitution for the floor cleaning detergent? Can you use vinegar and lemon to clean your house instead?
You are likely to buy lemons for cooking, and for making iced lemon tea, can you soak the leftover lemon skin into the water overnight, and use the water for cleaning your house?
Do learn how to save money by finding product substitution. If you are unable to think of any, please ask the generation who survives the Great Depression. They lived at the time when all the detergents and many products are not invented.
Do ask them how to save money. They have 80 to 100 years of experience behind them. They are willing to share the knowledge of how to save money with you.
Learn how to save money by asking others
Your friends and colleagues can be a good source of information. Do they have much lesser mobile bills than you? Do they have a bigger house, and less electricity bill? Do they pay less on gas and insurance?
You can chat with them, and ask them how to save money. Do ask specifically. Do not just ask them how to save money. That is too board a question for them to answer.
Do ask specifically how to save money on insurance, how to save money on mobile bill, how to save money on Internet connection, how to save money on textbooks, how to save money on baby products, how to save money on education, how to save money on medical care, how to save money cooking for elderly folks, how to save money on business suits, how to save money on lunch etc.
Your friends are very willing to share their knowledge, provided you have generous enough to share yours.
Ask the people who are surviving on food stamps, too. They have to learn how to save money since money is limited. They have a lot of knowledge gained by painful experience.
Do you wonder why the children of the poor are healthier? Can you ask their parents what they eat and do? Can you ask them how to save money, and produce healthy children?
They are willing to tell you. Even if they are poor, they love to know that they have something to teach you. Do spend time talking to them. Do spend time asking everyone you meet “how to save money?”
Whenever you hear an interesting discussion revolving the topic “how to save money”, do listen attentively. You can pretend that you are looking for something in your bag. You can pretend to admire the item nearby. No matter what is your excuse for standing near them, you must listen attentively. The words are free, but it can help you save a lot of money.
There is no end to learning how to save money. People living in the past asked “how to save money?” People in the future will ask “how to save money?” Young people ask “how to save money?” Old people ask “how to save money?” The poor asks “how to save money?”
The rich also asks “how to save money?” except that they ask in a different way. They want to know what the value for their money is.
As long as you are living, you need to know how to save money. As long as you are living, you will keep asking how to save money. It is better to learn how to save money earlier in life, than later.
The question only ceases when you are in your permanent home, where money is not a concern.
So folks, how to save money? Do find out, and share your knowledge.
Friday, May 8, 2009
Saving is a Habit
Saving is a habit that takes time to cultivate.
However, once cultivated, the habit of savings will stay with a person for a long, long time.
The best way to start learning to save is to save spare change. $100 sounds a lot to save every month, but $0.20 per day seems so easy to save.
Not many like to carry a lot of spare change with them when they go out shopping. Most people will take the spare change from the cashier, bring them home, and put aside.
Put the spare change into a cookie tin, a bowl, a can or even the empty jar of tomato sauce. Since you are likely to buy a lot of tomato sauce and peanut butter, you can recycle the empty jars into "piggy banks" to save your spare change.
Every time when you go shopping, pay with the bills, accept the spare change from the cashier.
And do not use the spare change.
For example, you buy a cup of coffee for breakfast. Pay with the bill. Keep the change. In mid morning, you are hungry, you go for a doughnut. Pay with the bill, keep the change. Come lunch time, you order your sandwich. This is the third time in a day that you pay with the bill, and keep the change.
After work, you go to the supermarket to get a carton of milk and some bread. Pay with the bill again. Keep the change.
Once you reach home, toss the all coins into the jars. You will be surprised to see how quickly the mountain of spare change grows. At first, you see a few coins inside. A week later, the jars is a quarter full. A month later, you have a full jar of coins.
Think about it, that is your saving, that is your money. Unknowingly, the jar contains a few dollars, even a few hundred dollars, of your savings.
The satisfaction of seeing the money grows can motivate you to save more money. After all, these are real money, money that you can hold, you can touch, you can hear the tinking sound. It is different from using credit card, when sometimes you do not feel like you are spending real money.
Make it a habit to save loose change. Seal up the jar once it is full. Continue to fill in jars after jars of coins. Bring the money to the bank once you have a few jars full of money. Open a new account for the money saved. Do not spend a single cent from it.
You are saving the money for emergency, for retirement and any other purpose. You are not saving the money so that you can buy luxuries.
However, once cultivated, the habit of savings will stay with a person for a long, long time.
The best way to start learning to save is to save spare change. $100 sounds a lot to save every month, but $0.20 per day seems so easy to save.
Not many like to carry a lot of spare change with them when they go out shopping. Most people will take the spare change from the cashier, bring them home, and put aside.
Put the spare change into a cookie tin, a bowl, a can or even the empty jar of tomato sauce. Since you are likely to buy a lot of tomato sauce and peanut butter, you can recycle the empty jars into "piggy banks" to save your spare change.
Every time when you go shopping, pay with the bills, accept the spare change from the cashier.
And do not use the spare change.
For example, you buy a cup of coffee for breakfast. Pay with the bill. Keep the change. In mid morning, you are hungry, you go for a doughnut. Pay with the bill, keep the change. Come lunch time, you order your sandwich. This is the third time in a day that you pay with the bill, and keep the change.
After work, you go to the supermarket to get a carton of milk and some bread. Pay with the bill again. Keep the change.
Once you reach home, toss the all coins into the jars. You will be surprised to see how quickly the mountain of spare change grows. At first, you see a few coins inside. A week later, the jars is a quarter full. A month later, you have a full jar of coins.
Think about it, that is your saving, that is your money. Unknowingly, the jar contains a few dollars, even a few hundred dollars, of your savings.
The satisfaction of seeing the money grows can motivate you to save more money. After all, these are real money, money that you can hold, you can touch, you can hear the tinking sound. It is different from using credit card, when sometimes you do not feel like you are spending real money.
Make it a habit to save loose change. Seal up the jar once it is full. Continue to fill in jars after jars of coins. Bring the money to the bank once you have a few jars full of money. Open a new account for the money saved. Do not spend a single cent from it.
You are saving the money for emergency, for retirement and any other purpose. You are not saving the money so that you can buy luxuries.
Thursday, May 7, 2009
My Earnings From Online Activities as of March 09
Many people do not believe that anyone can make money online. They do not believe the advertisements that say you can make a few thousands a month.
It is true that making a few thousands a month is not easy, however it is not impossible.
There are a few ways that people make money online.
From my personal experience in making money online starting from middle of February 2009, I have achieved a little success.
Income from mylot discussion forum
US$11.46 (for 1 1/2 month ending March 09)
Income from Associated Content
US$2.58 (for 1 month and 1 week ending March 09)
Income from Helium
US$51.51 (for 1 1/2 months ending March 09)
That is just a small beginning. Since then I came across lulu.com, dailyarticle.com and topicwrite.com, neobux.com, easyhits4u.com, isabelmarco.com and my two blogs.
It is possible to make money online. It is hard at first for me, a computer idiot. There are so many sites to view, so many websites to check out. Fortunately by doing due diligence, I have avoid a lot of scam sites.
The small beginning to making money online will become a huge cashflow in the future.
It is possible to make money from writing articles and selling them online. It takes a lot of effort in the beginning, and a steep learning curve.
However, it is worthwhile to create a source of passive income and see the income increasing.
It is true that making a few thousands a month is not easy, however it is not impossible.
There are a few ways that people make money online.
From my personal experience in making money online starting from middle of February 2009, I have achieved a little success.
Income from mylot discussion forum
US$11.46 (for 1 1/2 month ending March 09)
Income from Associated Content
US$2.58 (for 1 month and 1 week ending March 09)
Income from Helium
US$51.51 (for 1 1/2 months ending March 09)
That is just a small beginning. Since then I came across lulu.com, dailyarticle.com and topicwrite.com, neobux.com, easyhits4u.com, isabelmarco.com and my two blogs.
It is possible to make money online. It is hard at first for me, a computer idiot. There are so many sites to view, so many websites to check out. Fortunately by doing due diligence, I have avoid a lot of scam sites.
The small beginning to making money online will become a huge cashflow in the future.
It is possible to make money from writing articles and selling them online. It takes a lot of effort in the beginning, and a steep learning curve.
However, it is worthwhile to create a source of passive income and see the income increasing.
Wednesday, May 6, 2009
Rich in sights and sound
Do you feel rich? Even if you are not rich in monetary sense, you are rich.
If you are able to read this post, you are rich. If you are able to listen to the songs, you are rich. You are rich in sights and sounds.
Take a walk in the garden. Talk a walk on the street. Sometimes you will see the blue sky and the white clouds. Sometimes you will see the snowflakes falling from the sky. Sometimes you will see the trees reaching for the sky.
The world is a beautiful place. The birds are singing every day. The trees are growing taller and taller. The sky is always changing colors.
The flowers are fighting for your attention. The wonderful world is a place of richness in sights and sounds.
Take some time to admire the wonderful sights and sounds. Even though you are not making a lot of money, even though you do not call yourself rich in monetary term, you are rich. You are living in a world rich in sights and sounds. You are rich in having a healthy body, and ability to enjoy living.
You are rich in having the time to enjoy life. All the money you make is no use, if you do not use them to enjoy life. It is not worth getting rich and suffers health problems as a result of overwork.
So folks, you are rich, take time to enjoy the world around you, and feel rich.
Tuesday, May 5, 2009
Rich in Imaginations
Many people get rich because they are rich in imagination.
Thomas Edison was a very rich man. How did he become so rich? He was rich in imagination. Before any success in his experiment, he had seen the invention many times in this imagination.
He imagined the day when every household had the light bulb to light up the room at night. He saw it so clearly in his imagination. The light bulb that we had at home was the product of his imagination.
How did Walt Disney get rich? His riches started in his imagination. Mickey Mouse first existed in his imagination. The Disneyland was a product of his imagination.
So folks, if you want to be rich, you must have the courage to dream. You must see your riches in your imagination. You must see the product in your imagination. The unknown forces in the universe will see to it that the product of your imagination becomes a reality.
The product of your imagination will make you rich.
Thomas Edison was a very rich man. How did he become so rich? He was rich in imagination. Before any success in his experiment, he had seen the invention many times in this imagination.
He imagined the day when every household had the light bulb to light up the room at night. He saw it so clearly in his imagination. The light bulb that we had at home was the product of his imagination.
How did Walt Disney get rich? His riches started in his imagination. Mickey Mouse first existed in his imagination. The Disneyland was a product of his imagination.
So folks, if you want to be rich, you must have the courage to dream. You must see your riches in your imagination. You must see the product in your imagination. The unknown forces in the universe will see to it that the product of your imagination becomes a reality.
The product of your imagination will make you rich.
Monday, May 4, 2009
Get rich by learning to read people
If you want to be a millionaire or a billionaire, you have to learn to read people. All businesses invest in people. The sole proprietor business invests in the owner. The large multi-national companies invest in many talented people.
Investing in people is an art. If you invest wrongly, you will lose all your money, even your life. If you are good at reading people and you are prudent with your investment, you will make a lot
more money.
If your friends or neighbors want to start a business, and they seek your financial help. This is a chance for you to invest in people. But you have to learn the skills to read people and invest in people.
Just because he or she is your best friend does not mean that he or she is a good businessman. It also does not mean that he or she will not take your money and run off.
Whenever your friends or neighbors ask you to part with the money and invest in their business, you have to be extra careful. You have to know what businesses they have in mind.
You have to know how good they are in the particular business. You have to use your discretions to judge their characters. Are they the kind of persons that will succeed? Are they the kind of persons who rather die than lost their integrity? Are they the kind of persons that you can trust with your life savings?
If yes, please invest in them. You will get your rewards thousands fold, you will become rich because of this wise investment.
Investing in people is an art. If you invest wrongly, you will lose all your money, even your life. If you are good at reading people and you are prudent with your investment, you will make a lot
more money.
If your friends or neighbors want to start a business, and they seek your financial help. This is a chance for you to invest in people. But you have to learn the skills to read people and invest in people.
Just because he or she is your best friend does not mean that he or she is a good businessman. It also does not mean that he or she will not take your money and run off.
Whenever your friends or neighbors ask you to part with the money and invest in their business, you have to be extra careful. You have to know what businesses they have in mind.
You have to know how good they are in the particular business. You have to use your discretions to judge their characters. Are they the kind of persons that will succeed? Are they the kind of persons who rather die than lost their integrity? Are they the kind of persons that you can trust with your life savings?
If yes, please invest in them. You will get your rewards thousands fold, you will become rich because of this wise investment.
Sunday, May 3, 2009
Investing in Stock Market is still a way to get rich
The traditional way to get rich is by investing in the stock market. Many millionaires around the world get rich when they invest in the right companies, at the right time in the stock market.
You do need to have money to buy the shares. You do need knowledge of stock market and the companies you are interested in investing. You do need to pay attention to the economy situation. You need to monitor the companies that you have bought. You have to monitor their business model and any change in business plan.
Once you are able to do that, you have to pray for a lot of good luck on your side. No matter how knowledgeable or smart the investors are, there are still chances of losing all the capital in the stock market.
However, majority of the investors who know what they are doing make money from the stock market. Even though they lose sometimes and win sometimes, ultimately they win more than they lose.
Stock market was, is and still will be the way to get rich.
You do need to have money to buy the shares. You do need knowledge of stock market and the companies you are interested in investing. You do need to pay attention to the economy situation. You need to monitor the companies that you have bought. You have to monitor their business model and any change in business plan.
Once you are able to do that, you have to pray for a lot of good luck on your side. No matter how knowledgeable or smart the investors are, there are still chances of losing all the capital in the stock market.
However, majority of the investors who know what they are doing make money from the stock market. Even though they lose sometimes and win sometimes, ultimately they win more than they lose.
Stock market was, is and still will be the way to get rich.
Make Money by Selling
The most popular method to make money online is by selling products and services. As an affiliate, your job is to get buyers for the products and services, the commission is as high as 50%.
Being an affiliate allows you to make a lot of money without creating any new product or service. The earnings is unlimited, the sky the limits. You are able to get the products and services from www.linkshare.com and www.clickbank.com
Many google advertisements that claim that you can make $1,000 to $3,000 a week advocate being affiliate. It is true that top notched internet marketers do make millions of dollars, but they take a long time to learn the trick. They also spend a lot of money on advertisement to generate sales.
The paypal amount that they show you is the gross profits, not the nett profit. Next time when you see these advertisements about making $1,000 weekly, do remember that this is the gross profit that they are telling. Making a gross profit of $1,000 means that the nett profit is much lower. It also means that the internet marketers have put in a lot of time and effort to learn the trade.
If selling is your cup of tea, and your desire to make millions of dollars is very strong. Being an affiliate is the way for you to make a lot of money online and get rich. Making money online is not a dream. There are millionaires and billionaires who become rich from online businesses.
Being an affiliate allows you to make a lot of money without creating any new product or service. The earnings is unlimited, the sky the limits. You are able to get the products and services from www.linkshare.com and www.clickbank.com
Many google advertisements that claim that you can make $1,000 to $3,000 a week advocate being affiliate. It is true that top notched internet marketers do make millions of dollars, but they take a long time to learn the trick. They also spend a lot of money on advertisement to generate sales.
The paypal amount that they show you is the gross profits, not the nett profit. Next time when you see these advertisements about making $1,000 weekly, do remember that this is the gross profit that they are telling. Making a gross profit of $1,000 means that the nett profit is much lower. It also means that the internet marketers have put in a lot of time and effort to learn the trade.
If selling is your cup of tea, and your desire to make millions of dollars is very strong. Being an affiliate is the way for you to make a lot of money online and get rich. Making money online is not a dream. There are millionaires and billionaires who become rich from online businesses.
Saturday, May 2, 2009
Being Rich and Feel Rich
Being rich and feel rich are two completely different matter.
A rich person may not feel rich. It is true that his financial statement shows how rich he is, but he will not feel rich if his life is in a mess. He will not feel rich when he does not feel financially secure.
Many people feel rich even though they are not rich in strictly monetary term.
A person with $10,000 may not feel rich living in big city. The same person with $10,000 will feel very rich in remote village.
A person with near perfect healthy will feel rich. After all, a healthy body is worth more than all the money in the world. A person with healthy kids and loving spouse will feel rich. The love and appreciation from caring family members is something that no money can buy, and only death can destroy.
So folks, aim to be rich and feel rich. It is good to have a lot of money, enough to be rich in strictly monetary sense, and to feel rich in all other senses.
A person rich in every sense is the happiest person in the world.
A rich person may not feel rich. It is true that his financial statement shows how rich he is, but he will not feel rich if his life is in a mess. He will not feel rich when he does not feel financially secure.
Many people feel rich even though they are not rich in strictly monetary term.
A person with $10,000 may not feel rich living in big city. The same person with $10,000 will feel very rich in remote village.
A person with near perfect healthy will feel rich. After all, a healthy body is worth more than all the money in the world. A person with healthy kids and loving spouse will feel rich. The love and appreciation from caring family members is something that no money can buy, and only death can destroy.
So folks, aim to be rich and feel rich. It is good to have a lot of money, enough to be rich in strictly monetary sense, and to feel rich in all other senses.
A person rich in every sense is the happiest person in the world.
Desire to be Rich
If you aim to be the next multi-millionaire or billionaire, you are not able to obtain the goal by working hard for others.
To get rich, as rich as a billionaire, you have to work very hard, but not in full time employment.
There are many ways that you can get rich without holding a full time job and work for others.
One way is by using a website. Use the website and run it as if it is your business. You have to choose a niche area that you are familiar with.
You have to write a lot of articles or commission ghost writers to write the articles for you. You have to take care of it, and filled it up with contents for the first few months.
Even if you decide to make use of private label rights articles, you have to make enough amendment for the articles to appear unique. Making use of PLR articles is great for those who do not want to spend time doing research for articles.
Once you have done that, use advertisements like Google Adsense, Adbrite or pay per month ads in your website. The advertisements will generate income for you. Your job is to attract a lot of readers who are interested in your websites.
The readers who are interested in the advertisements will click on them, and make money for you.
To get rich, as rich as a billionaire, you have to work very hard, but not in full time employment.
There are many ways that you can get rich without holding a full time job and work for others.
One way is by using a website. Use the website and run it as if it is your business. You have to choose a niche area that you are familiar with.
You have to write a lot of articles or commission ghost writers to write the articles for you. You have to take care of it, and filled it up with contents for the first few months.
Even if you decide to make use of private label rights articles, you have to make enough amendment for the articles to appear unique. Making use of PLR articles is great for those who do not want to spend time doing research for articles.
Once you have done that, use advertisements like Google Adsense, Adbrite or pay per month ads in your website. The advertisements will generate income for you. Your job is to attract a lot of readers who are interested in your websites.
The readers who are interested in the advertisements will click on them, and make money for you.
Friday, May 1, 2009
Make money from blogging without having a blog
If you are like to blog, but do not like the hassle of maintaining the blog. You can get paid blogging jobs at www.bloggerjobs.biz
As a freelancer, you can write a few hundred words on a given topic, you are paid by the bloggers to write articles for their blogs. The payment ranges from $5 an article to more than $25.
Writing articles for blog is an easy job. However, you must know the keywords that the bloggers want to insert in the articles. If the bloggers require that keywords such as “credit card” appear 25 times in the article, make sure that you keep using the word “credit card” instead of “it”.
Beside www.bloggerjobs.biz, you are able to find freelance blogging jobs from www.guru.com, www.getafreelancer.com and www.elance.com
As a freelancer, you can write a few hundred words on a given topic, you are paid by the bloggers to write articles for their blogs. The payment ranges from $5 an article to more than $25.
Writing articles for blog is an easy job. However, you must know the keywords that the bloggers want to insert in the articles. If the bloggers require that keywords such as “credit card” appear 25 times in the article, make sure that you keep using the word “credit card” instead of “it”.
Beside www.bloggerjobs.biz, you are able to find freelance blogging jobs from www.guru.com, www.getafreelancer.com and www.elance.com
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